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Home construction for Americans 55 and older is expected to drop by nearly half in 2009 compared with the previous year, a sign that the market for home building geared to senior citizens is contracting despite the wave of Baby Boomers approaching retirement.
The National Association of Home Builders reported this week that about 126,000 homes will be built this year for buyers 55 and older, down from about 249,000 last year. more…